Don’t simply beat the competition. Make it irrelevant.
Nearly everything in your business needs to involve marketing. Marketing can no longer be relegated to a siloed department, but rather evolve into a dynamic and encompassing strategy that is embraced by every member of the company – from C-suite to administrative. An integrated marketing strategy needs to permeate everything from the innovation of new services and products, to brand positioning, internal communications, and client / consumer engagement to garner the long-term ROI and velocity of growth to ensure relevance going forward.
It’s critical during this strategy development process that you engage the right third-party collaborator. Look for a branding, advertising and/or public relations agency that shares your values, vision, and commitment to success. Rather than focusing on cost, focus on capabilities, trustworthiness and a strategic approach to achieving goals.
And those goals should go far beyond beating the competition with a short-term strategy. Rather, play the long game and render the competition entirely irrelevant. Demonstrate incredible value and relevance in your company, service or product that essentially launches it into its own marketspace.
According to a long-term study of effectiveness conducted by The Institute of Practitioners of Advertising (IPA) in the UK, they found that an emotional sell was far more effective than a rational reason to buy. We’re not talking about puppies and babies here, but rather ensuring your target audience see themselves reflected in your brand’s value. Succeed and they will instinctively desire to be associated with it, regardless of cost. Which translates into making your competition irrelevant and ultimately, not even worthy of consideration.
Looking forward to an incredibly exciting 2020!